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The smart way to refinance mortgage Australia and boost your bottom line

Interest rates have swung wildly in recent years, prompting many owners to wonder whether their current home loan is still the right fit. If you can lock in a sharper deal, monthly repayments can drop, cash flow improves and long term savings mount quickly.

Why refinancing can work for you

The Australian competition watchdog recently noted that borrowers who stay with the same lender often pay more than new customers. Moving your loan, or even renegotiating with your existing bank, can place you back in the new customer category. That means lower rates, extra features such as an offset and the flexibility to pay your loan off sooner.

• Lower interest rate translates into smaller repayments and more disposable income.
• Ability to consolidate high cost debt, like credit cards, inside your mortgage rate.
• Chance to add helpful tools including redraw, offset or split rate options.

Four clear steps to refinance your home mortgage Australia

1. Assess your current position. Gather your latest statements and note the interest rate, remaining term and ongoing fees.
2. Compare offers using an online refinance calculator or a broker quote. Focus on the comparison rate, not just the headline rate.
3. Crunch the numbers. Exit fees, valuation costs and lender mortgage insurance can shrink the benefit if left unchecked.
4. Apply and settle. Provide identification, proof of income and property details, then allow the new lender to discharge the old loan.

Real world example from Sydney

Lisa, a finance manager at a major corporation, owed four hundred and sixty thousand dollars on a variable rate of six point eight per cent. After researching the best mortgage refinancing options Australia wide, she switched to a package at five point nine per cent. Her repayments fell by three hundred and seventy dollars a month, creating room in the family budget for school fees and holidays. Upfront costs totaled one thousand two hundred dollars and were recouped within four months.

Key costs you must review

While the aim is to save money with mortgage refinance Australia, ignoring fees can nibble away at your gain. Watch for discharge charges from the outgoing bank, application fees at the new bank, property valuation charges and the potential need for lender mortgage insurance if your loan to value ratio rises above eighty per cent. Build these figures into your break even calculation before you sign.

When refinancing might not suit

If you are on a very low fixed rate that still has years to run, the break cost may outweigh any benefit. Likewise, borrowers planning to sell within the next year may never recoup the changeover costs. Seek independent advice to ensure the move aligns with your goals.

Every dollar shaved off your interest rate compounds into thousands saved over the life of the loan.A quick email to a broker today could reveal opportunities you did not know existed.

Frequently Asked Questions

What are the best mortgage refinancing options Australia wide right now

The market shifts weekly, yet smaller lenders often deliver sharper variable rates, while larger banks sweeten deals with cash back offers. Compare at least three products, check the comparison rate and weigh up any benefits such as offset or fee waivers.

How can I save money with mortgage refinance Australia if my equity is limited

You can still qualify by lowering your loan to value ratio through an extra repayment or valuation uptick. Some lenders allow eighty five per cent refinancing without mortgage insurance, although the rate may be slightly higher. Consolidating personal debt can further boost monthly savings.

What are the core steps to refinance your home mortgage Australia

In short, review your current loan, research alternatives, calculate costs, then lodge the application. Most switches settle within four to six weeks.

Ready to see if a smarter loan could free up cash in your business or household, contact Impero today and let us connect you with a trusted broker.

The essential first home buyer mortgage checklist Australia

Landing the keys to your first Australian home comes down to planning. Our warm but practical checklist walks you through the entire journey, from saving your deposit to receiving your loan documents on settlement day, so you avoid costly surprises and keep the excitement alive.

Know your budget before you browse

Your income, existing commitments, and living costs determine how much you can borrow. Use an online borrowing calculator, then sit with a broker or banker to confirm the figure. Aim for a deposit of at least twenty per cent to sidestep lenders mortgage insurance, although many first time home buyer mortgage Australia packages accept as little as five per cent with government support.

• Check whether you qualify for the First Home Owner Grant or stamp duty concessions in your state.
• Factor in legal fees, building inspections, and moving costs.
• Open a dedicated savings account so the lender sees consistent contributions.

Prepare the paperwork lenders love

Lenders sign off on applications that feel low risk. Gather the following documents early so the approval clock starts ticking the moment you find a property.

1. Two recent payslips and your last group certificate.
2. Three months of bank statements showing income and savings growth.
3. Identification such as passport and driver licence.
4. Details of any outstanding debts including credit cards or car loans.
5. Evidence of genuine savings and gift letters if parents are helping.

Fast access to tidy documents can cut approval times by a full week.

Secure pre approval before an auction

In many Sydney suburbs properties sell at auction, leaving no cooling off period. A written pre approval tells you the maximum bid you can place with confidence and signals to agents that you mean business. Lock in pre approval for at least three months to allow breathing space during your search.

Case study: Alex and Priya

This young professional couple secured pre approval for seven hundred thousand dollars, enabling them to hold their ground at a competitive inner west auction and sign the contract on the same day.

Conduct thorough property checks

The Victorian Government guide reminds buyers to request a statement of information from the selling agent. Add a building and pest inspection to your home loan checklist for Australian first home buyers to avoid nasty repair bills later. Your lender may also order a valuation to protect both parties.

Finalise the loan and get ready for settlement

Once your offer is accepted the formal application moves forward. Expect the lender to review updated payslips, verify the contract price, and arrange mortgage insurance if required.

• Sign loan documents with your conveyancer present.
• Transfer the balance of your deposit into the trust account before settlement.
• Schedule a final inspection of the property twenty four hours prior.

After settlement your repayments begin, though many packages allow a redraw facility or offset account to shave interest.

Frequently Asked Questions

What is the step by step mortgage process Australia wide?

The process usually follows six stages, research, saving a deposit, pre approval, house hunting, formal approval, settlement.

Any tips for first home buyers in Australia to boost approval odds?

Pay down credit card limits, avoid buy now pay later services, and maintain stable employment for at least six months, these Australian first home buyer mortgage approval tips show lenders you can manage repayments.

Ready to turn your home ownership dream into reality? Contact Impero today and let our friendly team connect you with lenders who value corporate professionals just like you.

Your step by step guide to refinance mortgage Australia

Property markets shift, interest cycles turn and lenders fight hard for good customers. If you still have the same home loan you signed years ago, there is a fair chance you are paying more than you need. This guide shows you how to refinance mortgage Australia and pocket genuine savings without stress.

Why consider refinancing now

• Rates have climbed yet some lenders offer sharp discounts for new customers.
• You can roll expensive credit card or personal debt into one lower rate loan.
• Extra features such as redraw or offset can shave years off your term.
• A fresh valuation may lift your equity, letting you ditch lender mortgage insurance.

The biggest win is often a lower interest rate that can trim thousands from repayments every year.

Compare and crunch the numbers

Start with your current statement then check a refinance calculator. Look at the comparison rate, not just the headline rate, to capture fees. Ask your lender for a retention discount before you switch, a tactic that often yields quick savings. When scouting the market, focus on the best mortgage refinancing options in Australia that fit your goal, be it flexibility, speed or bare bones cost.

The refinance roadmap

1. Assess your loan balance, property value and break costs.
2. Collect documents, payslips and identification for a clean application.
3. Apply with your chosen lender and order a property valuation.
4. Sign the loan offer and let the new bank arrange settlement.
5. Set up automation for repayments and enjoy the savings.

This is a step by step guide to refinancing mortgage in Australia, yet every borrower is unique. Speak with an independent broker for tailored advice before you act.

Hidden costs and smart negotiations

Watch for discharge fees, new application charges and possible government duty on mortgage documents. If your loan to value ratio falls below eighty percent you can usually avoid lender mortgage insurance, a saving worth celebrating. Negotiate the length of the new loan so you do not simply reset the clock and pay interest for longer.

Case study: Sarah saves big in Parramatta

Sarah bought her apartment in 2019 with a variable rate of six point two percent. This year she followed Australian mortgage refinance tips and tricks, compared three lenders and secured four point seven percent. The move slashed her monthly repayment by two hundred and released cash flow for a holiday fund.

Frequently Asked Questions

How do I refinance home loan for lower interest rates Australia?

Begin by checking your current rate against advertised new customer rates. If the gap exceeds half a percent you may benefit. Gather financial documents, choose a lender with competitive comparison rates and apply. Settlement usually takes four to six weeks.

What are the best mortgage refinancing options in Australia?

Options range from big banks with package discounts to digital lenders that trade branch networks for sharp pricing. The best choice balances rate, fees, features and service quality for your situation.

Is it hard to follow how to refinance your home loan in Australia?

The process is straightforward for most salaried borrowers. Lenders handle the legal swap, while you supply paperwork and sign forms. A broker can manage the entire application at no cost to you.

Talk with a trusted broker now, unlock a better rate and watch your savings grow.

Mortgage Broker vs Bank Australia, a clear comparison

Why the choice matters

Buying property is one of the biggest financial moves most Australians make, and the way you finance it can shape your budget for decades. Choosing between a mortgage broker and dealing directly with a bank is more than a box to tick, it is about gaining clarity, confidence, and value.

How each pathway works

The mortgage broker route

A mortgage broker acts as an intermediary who matches your circumstances with a panel of lenders. In Australia, brokers are legally required to act in your best interests and many are paid by the lender rather than by you. This means the service usually comes at no direct cost to the borrower.

The direct bank path

Going straight to a bank means negotiating with one lender and selecting from only that bank’s home loan products. You build a relationship with the institution that will eventually hold your mortgage, but your range of rates and features can be limited.

Key differences at a glance

• Choice of products Brokers can access dozens of lenders, banks offer their own range only.
• Negotiation power Brokers submit multiple applications daily, giving them insight into rate trends, banks rely on internal pricing grids.
• Paperwork Brokers complete forms and gather documents, banks leave most of the admin to you.
• Cost to you Both options rarely charge upfront, the broker is paid via lender commission while banks build margin into the rate.

When a broker may be the smarter move

1. You have a complex income structure such as contracting or self employment.
2. You seek features like offset accounts, redraw or interest only periods.
3. You want to benchmark several lenders without running endless comparisons yourself.
4. You prefer guidance from someone who works with home loans every day.

More than three in four new borrowers now turn to brokers because the process feels less stressful and often results in a sharper rate.

Where going direct to a bank can shine

If your situation is simple, you hold a long standing account with a bank, and you value the ability to sit in a branch and speak to staff who already know you, applying direct can work well. Some banks also run special loyalty discounts for existing customers.

Case study, Emma and Liang

Emma is a consultant with variable income and Liang is a teacher on a steady salary. Their broker secured pre approval from three lenders, one offering a lower variable rate and a generous cash rebate. The couple settled on that option and saved thousands in interest compared with the single offer from their main bank.

Frequently Asked Questions

Should I use a mortgage broker or go directly to the bank in Australia?

The answer depends on your goals. Brokers provide a wider selection and handle legwork, while banks offer familiarity and potentially faster approval for existing clients. Comparing both is often the best way to confirm value.

What are the main mortgage broker advantages Australia wide?

Brokers give access to many lenders, negotiate rates on your behalf, and apply a best interest duty that banks do not share. Their service usually costs you nothing.

What is the best way to get a home loan Australia?

Start by outlining your budget, deposit, and preferred features, then request quotes from your bank and a reputable broker. Compare rates, fees, and flexibility before committing.

Ready to explore your loan options? Reach out today and let Impero connect you with trusted professionals who will make your property dream a reality.

Facing a mortgage application declined in Australia? Your next move matters

Finding out that a lender has said no after weeks of gathering payslips and bank statements can feel like the end of the road, yet it is usually just a detour. Australian lenders follow strict guidelines and even a minor misstep can trigger a decline, but the good news is that every rejection contains clues for a stronger comeback.

Why lenders reject applications

• Deposit too small relative to the property price and loan to value ratio rules
• Poor or patchy credit history with defaults or late payments
• Inconsistent employment record, such as casual contracts or recent job changes
• High existing debt that pushes serviceability above the benchmark
• Missing paperwork or figures that do not align with the data held by credit bureaus

Immediate steps after a no

1. Request the specific reason in writing, which lenders must provide on request
2. Order a free copy of your credit report from Equifax or Illion and check for errors
3. Settle or consolidate small debts to lower your credit utilisation
4. Map a realistic budget that shows the capacity to save, then practise it for three months to create fresh account evidence

Taking these actions quickly shows the next lender that you respond to feedback like a responsible borrower.

How to improve your credit score for mortgage approval

Your credit score reflects both mistakes and improvements. Pay every bill on time, keep credit card limits modest, and avoid multiple loan enquiries within a short period. A single late phone bill can shave points yet six punctual months can add them back

Alternative mortgage options in Australia

Mainstream banks are not the only route to home ownership. You could explore mutual banks, credit unions, specialist lenders that cater for unique income profiles, or consider a guarantor loan that leverages family equity. For some self employed buyers, a low doc product offers flexibility in how income is verified.

Case study, Mia and Jay

Mia and Jay were declined because of a short employment history. Their broker shifted them to a non bank lender that accepted probation period income, paired with a slightly higher interest rate. Twelve punctual repayments later, they refinanced with a major bank and reduced their rate. Their story shows that timing and lender fit matter as much as the numbers.

Appealing a mortgage rejection in Australia

If the decline hinges on incorrect data, you can lodge a dispute with the credit agency and ask the lender to reconsider. Supply updated statements or letters from creditors confirming paid debts. Patience is vital, because a rushed second application with the same error can mark your file twice.

When to reapply

As a rule, wait until the original issue is fixed and reflected in your documents. Some borrowers rebound in a fortnight by correcting an administrative slip. Others need six to twelve months to rebuild their profile. A trusted broker can map the optimum timeline and keep hard enquiries to a minimum.

Remember, a mortgage application declined in Australia is not a verdict on your worth. It is a signal to review, refine, and return stronger.

Frequently Asked Questions

What to do if your mortgage is declined in Australia more than once?

Pause and analyse the pattern. Order updated credit reports, compare lender criteria, and seek a broker who can match your profile to a suitable product before submitting again.

Can I access alternative mortgage options if I have credit blemishes?

Yes, specialist lenders and some credit unions assess applications on overall affordability rather than a single credit score. Expect a higher rate at first while you demonstrate repayment discipline.

Is appealing a mortgage rejection in Australia worth the effort?

If the reason is factual error or missing paperwork, an appeal can succeed, saving time and preserving your credit file from another enquiry.

Take charge today, speak with a trusted mortgage professional and turn that decline into the first step toward your keys.

The hidden costs of buying a property in Australia: what your deposit does not cover

Crunching the numbers for your dream home often focuses on the headline purchase price and the size of the deposit. Yet many corporate buyers relocating staff, or executives expanding an investment portfolio, discover that the true bill climbs quickly once overlooked fees roll in.

Upfront government charges

Stamp duty dwarfs most other extras. Each state sets its own sliding scale so a one million dollar home in Sydney can add more than forty thousand dollars in duty alone. There is also a transfer fee and a mortgage registration fee that together can exceed one thousand dollars. Ignoring these government costs can cripple cash flow at settlement.

Bank and lender fees

Loan approval rarely comes free. Application assessments, valuation reports and settlement handling by the lender can range from five hundred to one thousand five hundred dollars. If the deposit is under twenty per cent, Lenders Mortgage Insurance may apply and it can top twenty thousand dollars on a mid range city apartment. Budgeting early protects your borrowing power and reduces stress on settlement day.

Professional services you cannot skip

• Conveyancer or solicitor, expect between one thousand five hundred and three thousand dollars depending on complexity.
• Pest and building inspections, three to eight hundred dollars but they can save six figures by exposing structural issues.
• Strata report for units, around three hundred dollars.

Immediate post settlement expenses

The unexpected costs of property ownership in Australia often surface during the first twelve months. Council and water rates, strata levies, home insurance and routine maintenance like gutter cleaning collectively chew through thousands. Set aside a maintenance reserve so small repairs do not snowball into large renovations.

Real world scenario

Consider an executive who secures a nine hundred thousand dollar townhouse in Melbourne. After paying a ninety thousand dollar deposit they face thirty seven thousand in stamp duty, two thousand in lender and government fees, three thousand in legal work, nine hundred for inspections and fifteen thousand in LMI. The property is barely settled before quarterly council charges and a repaint add another three thousand. The hidden expenses in Australian real estate transactions turn a nine hundred thousand purchase into almost one million with little warning.

How to keep your budget realistic

1. Request an itemised quote from your conveyancer listing every statutory charge.
2. Ask your lender for a written schedule of all bank fees and possible LMI premiums.
3. Order building, pest and strata reports before the cooling off period ends.
4. Place ten per cent of the purchase price in a maintenance fund to cover early repairs.
5. Review council and water rates from the previous owner to forecast annual ownership costs.

Frequently Asked Questions

What additional fees should I expect when purchasing a property in Australia?

Alongside stamp duty, buyers usually pay transfer and mortgage registration fees, legal and conveyancing charges, inspection costs and possibly Lenders Mortgage Insurance. These additional fees when purchasing a property in Australia can add thousands.

How can I plan for hidden expenses before buying a home in Australia?

Create an expanded budget that covers government charges, lender fees, professional services, first year ownership costs and a maintenance buffer. This approach ensures costs to consider before buying a home in Australia do not derail your finances.

Want more insider tips on smart spending? Contact Impero today and keep your next big purchase firmly under control.

Mastering Self Employed Mortgage Approval in Australia

Running your own business gives you freedom though it can make stepping onto the property ladder feel daunting. Banks love predictable pay slips, yet thousands of business owners secure keys every year, proving that Self-employed mortgage approval Australia is absolutely possible.

Why lenders look harder at self employed income

Lenders assess risk by looking for stable earnings. Without a regular salary they dig deeper into tax returns, BAS, and business activity. If profits swing, they usually average the most recent two years or ask for extra paperwork.

Five steps to improve your chances

1. Maintain crystal clear records. Two years of tax returns, notices of assessment, and up to date BAS pave the way.
2. Pay yourself first. A consistent wage from your company mirrors PAYG income and reassures credit teams.
3. Reduce personal and business debt. Lower commitments lift your borrowing capacity.
4. Save a bigger deposit. Twenty percent deposit can offset perceived volatility.
5. Speak with a specialist broker who regularly places loans for sole traders and contractors. They know which banks offer flexible verification.

Case study, Mia the Sydney graphic designer

Mia operated as a sole trader for three years, paying herself a modest salary and reinvesting the rest. Her adviser helped her lodge accurate returns, clear a credit card, and present year on year profit growth. Her application sailed through in twelve days.

Low doc versus full doc loans

If your ABN is less than two years old or paperwork is patchy, low documentation loans allow BAS statements, accountant letters, or recent bank statements to prove earnings. Rates can be slightly higher, yet they open doors when timing matters.

• Maximum loan to value ratio often capped at eighty percent
• Some lenders require mortgage insurance regardless of deposit size
• Prepare to show business activity for at least six months

Documentation checklist

• Personal tax returns and notices of assessment for the most recent two years
• Business financial statements including profit and loss and balance sheet
• BAS for the last four quarters
• Six months of business and personal bank statements
• Current ABN and GST registration confirmation
• Signed accountant verification of income

Collating these items before you sit down with a broker speeds up the process and shows you operate like a well organised corporate.

Why a bigger deposit matters

A stronger equity position lowers your loan to value ratio which in turn trims lender risk margins and often removes the need for lender mortgage insurance. That saving alone can keep thousands in your pocket over the life of the loan.

Additional insider tips

Order your tax returns early in the financial year so they reflect your strongest figures. Keep personal and business accounts separate, and lodge BAS on time. Consider building a buffer in an offset account to show you can handle market dips.

Frequently Asked Questions

How self employed Australians can get a mortgage without two full tax years

Several lenders accept one recent return plus six months of BAS or bank statements. A larger deposit and clean credit history also help.

What are the best mortgage options for self employed in Australia

Full doc products from mainstream banks deliver the sharpest rates when documentation is complete. Specialist lenders offer flexible low doc loans that trade a small rate premium for convenience.

Any mortgage tips for self employed Aussies looking to apply in the next year

Finalise overdue tax, keep GST lodged on time, and park surplus cash in a high interest savings account to boost genuine savings.

Planning your next big move, whether a home or a refreshed merchandise program, reach out to the friendly team at Impero and let us help you leave a lasting impression.

Using equity to invest in a second property in Australia

For many Australian owners, the first place they look for funds to grow a portfolio sits under their roof. Using equity to invest in a second property can free up a deposit without forcing you to save from scratch, letting you chase growth while still enjoying your current home.

What is usable equity?

Equity is the gap between what your home is worth and what you still owe. Lenders usually allow borrowing against up to 80% of the current value, keeping a safety buffer so you avoid extra mortgage insurance. The sum you can pull out after that buffer is your usable equity.

How to work it out

• Get a current valuation from your bank or an independent valuer.
• Multiply the value by 0.8 to find the lending ceiling.
• Subtract your outstanding loan balance. The amount left is the equity you may access.

Funding options

You can request a top up on the existing loan or set up a separate facility linked to the equity. A separate facility keeps investment costs isolated which can make tax time easier.

Best ways to leverage equity for a second home

• Use equity as the full deposit so your savings stay in an offset account and continue to cut interest on the first loan.
• Consider interest only repayments on the investment loan to boost short term cash flow.
• Check rental demand in the suburb to support repayments once tenants move in.

Case study: Sarah and Leo in Sydney

Sarah and Leo bought in Glebe for 900000 five years ago with a 720000 loan. A new valuation places the home at 1.2 million. Eighty per cent of that value is 960000. Their loan balance sits at 650000, giving them 310000 of usable equity. They draw 250000, cover a 20% deposit on a coastal townhouse and keep 60000 for closing costs and a paint refresh.

Step by step on investing in a second property with home equity Australia

1. Order a valuation and confirm your borrowing capacity.
2. Seek pre approval and compare loan structures.
3. Research growth corridors and yield trends.
4. Run cash flow models under different interest scenarios.
5. Settle, then review both loans annually to stay on track.

Speaking with a qualified mortgage broker early can reveal lender policies that fit your strategy.

Frequently Asked Questions

How do I use home equity for property investment in Australia?

You release equity through a top up or separate loan, then apply those funds as the deposit and costs on the new purchase. Provided the combined repayments fit your budget, the bank will treat the equity funds as genuine cash.

Can I use equity from my primary residence for an investment property?

Yes, most lenders allow this as long as the total loan to value ratio on your home stays at or below 80% or you agree to pay lender mortgage insurance. Solid income and clear credit history remain essential.

Ready to turn built up equity into a second key? Contact the Impero team and start planning today.

The Real Cost Of Your Home Loan Deposit Australia

Why lenders love twenty percent

For decades the golden number for a home loan deposit in Australia has been twenty percent of the purchase price. Handing over that amount lowers your loan to value ratio to eighty percent which in turn reduces risk for the bank and can unlock sharper interest rates. More importantly it lets you avoid lender mortgage insurance a fee that can run into tens of thousands of dollars.

Can you buy with a smaller deposit

You can still step onto the property ladder with less than twenty percent. Most mainstream lenders will consider five to ten percent if your income is solid and your credit file is clean. Government initiatives like the First Home Guarantee even allow eligible buyers to enter the market with as little as five percent because the Commonwealth guarantees the shortfall.

What a smaller deposit really costs

Selecting a lower deposit means borrowing more and possibly paying lender mortgage insurance. The comparison below shows what a home loan deposit Australia borrowers face on a typical purchase.

• Twenty percent deposit one hundred thousand dollars, loan four hundred thousand dollars, no lender mortgage insurance.
• Ten percent deposit fifty thousand dollars, loan four hundred fifty thousand dollars, lender mortgage insurance around thirteen thousand dollars added to the loan.
• Five percent deposit twenty five thousand dollars, loan four hundred seventy five thousand dollars, lender mortgage insurance can climb above twenty thousand dollars.

The takeaway, bigger deposits cut both interest and hidden fees.

Saving for your deposit without pain

Automate transfers into a dedicated high interest savings account the day after pay hits your bank. Treat the transfer like a non negotiable bill.

1. Set a realistic timeline. Work backwards from your target purchase date.
2. Track discretionary spending for thirty days then trim the obvious leaks like subscription services you forgot about.
3. Boost income with overtime freelancing or renting out a spare room. Every extra dollar goes straight to the deposit fund.

Some buyers use term deposits or share portfolios to outpace inflation yet keep risk moderate. Others tap into superannuation through the First Home Super Saver Scheme which can deliver tax advantages.

Alternative home loan deposit options in Australia

• Parental guarantor. A family member offers part of their equity as security so you can borrow up to one hundred percent of the purchase price and avoid lender mortgage insurance.
• Genuine savings boosts. Lenders view funds held for at least three months as reliable. Even a modest five thousand dollars can strengthen your application.
• Gifted funds. Cash gifts are accepted by many banks as long as you supply a statutory declaration confirming the money is non refundable.

Crunch the numbers before you leap

A good mortgage broker will compare dozens of products, calculate total cost over the life of the loan and show how an extra five percent deposit today could save far more in interest tomorrow. Small tweaks now often shave years off your mortgage.

Frequently Asked Questions

How much deposit do I need for a home loan in Australia if I am a first time buyer

First home buyers can purchase with as little as five percent under the First Home Guarantee. Without a scheme most lenders ask for at least ten percent with genuine savings.

What is the minimum deposit for home loan Australia banks will accept without lender mortgage insurance

You typically need twenty percent so the loan to value ratio sits at eighty percent. Some niche lenders may waive the insurance at fifteen percent for certain professions.

Keen to turn your deposit plan into reality Reach out to the friendly team at Impero and discover branded solutions that help motivate your employees and clients on their property journey.